Accounts payable - 1099 Reporting

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Posted on by Sophie Grove

Hi everyone,

We are new to Business Central. We have completed our 1099 filing for 2019, and would like to know if some form of close-out is necessary to clear the 2019 vendor balances, and for the programs to recognize the start of 2020 payment data? If so, could anyone advise how to run that close-out?

If no such thing is necessary, can anyone confirm the "Vendor 1099 Miscellaneous" program generates balances based on the payment's posting year?

Any advice is appreciated. Thanks so much!

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Brian Wick on at

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Hi Sophie,

There is no close out per se to clear prior year 1099 Amounts on the VLE's. The report is driven off of the Calendar Year you define and reports based off the posting date of the applied payment entry. Thanks.

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Sophie Grove 5 on at

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Thanks Brian!

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